Drucker Wealth 3.0 LLC Cuts Stake in Enbridge Inc $ENB

Drucker Wealth 3.0 LLC cut its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 47.5% in the third quarter, Holdings Channel reports. The fund owned 47,419 shares of the pipeline company’s stock after selling 42,839 shares during the quarter. Drucker Wealth 3.0 LLC’s holdings in Enbridge were worth $2,393,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC purchased a new stake in Enbridge during the fourth quarter worth $261,000. AQR Capital Management LLC increased its position in shares of Enbridge by 68.5% during the first quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock worth $1,264,000 after purchasing an additional 11,599 shares in the last quarter. Yousif Capital Management LLC raised its stake in Enbridge by 7.5% in the second quarter. Yousif Capital Management LLC now owns 30,722 shares of the pipeline company’s stock valued at $1,392,000 after buying an additional 2,135 shares during the last quarter. Balboa Wealth Partners purchased a new position in shares of Enbridge in the 2nd quarter valued at approximately $421,000. Finally, Drive Wealth Management LLC raised its holdings in shares of Enbridge by 3.4% in the second quarter. Drive Wealth Management LLC now owns 8,234 shares of the pipeline company’s stock worth $373,000 after buying an additional 269 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 4.5%

ENB opened at $51.46 on Wednesday. The stock has a market capitalization of $112.28 billion, a PE ratio of 22.37 and a beta of 0.69. Enbridge Inc has a one year low of $39.73 and a one year high of $54.19. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.68 and a current ratio of 0.80. The business’s 50 day moving average price is $48.15 and its 200 day moving average price is $48.09.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a return on equity of 11.01% and a net margin of 11.30%.The company had revenue of $17.18 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. As a group, equities research analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be given a $0.97 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This is an increase from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 dividend on an annualized basis and a yield of 7.5%. Enbridge’s dividend payout ratio is currently 116.96%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Zacks Research raised Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Tuesday. National Bank Financial reissued a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Royal Bank Of Canada increased their target price on Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. cut shares of Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Enbridge currently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.